February 11, 2008
Middlesex Savings Bank Named SBA Preferred Lender
By Cory Hopkins
Natick-based Middlesex Savings Bank has been designated an SBA preferred lender, allowing the bank to make small business loan decisions more rapidly, according to the Massachusetts office of the Small Business Administration.
Under the SBA's Preferred Lenders Program (PLP), high-volume SBA lenders such as Middlesex Savings are delegated loan approval, closing and most servicing and liquidation authority, enabling them to make loan decisions faster. The PLP designation is the highest recognition a bank can receive from the SBA, according to the administration.
Middlesex Savings Bank has 550 employees and 25 retail branches, in addition to four commercial banking centers. The bank manages more than $3 billion in assets.
Under the SBA's Preferred Lenders Program (PLP), high-volume SBA lenders such as Middlesex Savings are delegated loan approval, closing and most servicing and liquidation authority, enabling them to make loan decisions faster. The PLP designation is the highest recognition a bank can receive from the SBA, according to the administration.
Middlesex Savings Bank has 550 employees and 25 retail branches, in addition to four commercial banking centers. The bank manages more than $3 billion in assets.
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